Add as a preferred source on GoogleHong Kong Pushes Wholesale CBDC for After-Hours Derivatives Trading
Secretary for Financial Services and the Treasury 许正宇 also cited T+1 stock settlement preparations and plans to support more indexes, ETFs and derivatives.
Hong Kong is pushing to introduce a wholesale central bank digital currency (wCBDC) during derivatives trading after the market closes, Secretary for Financial Services and the Treasury 许正宇 said Nov. 12.
At the opening of IMC’s new Hong Kong office, 许正宇 also cited preparations for T+1 settlement in the stock market and efforts to support a broader range of indexes, index-tracking exchange-traded funds and derivatives.
The remarks add a specific setting for the wCBDC initiative to Hong Kong’s discussions about market hours and settlement. Hong Kong is also considering longer trading hours starting with derivatives, alongside T+1 settlement and settlement using tokenized money and the digital Hong Kong dollar.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.